Sterne Agee Reports Strong Results For SCVL

Sterne Agee has published a report on the strong results and positive outlook for Shoe Carnival, Inc. SCVL.

Sterne Agee writes, “We are confident that the later Easter will likely result in 1Q11 sales surpassing guidance, despite the difficult comparison due to toning shoes last year. The introduction of toning proved that SCVL could sell higher price points. We expect new lightweight and technical running shoes will more than offset last year's toning business SSS. In addition, the implementation of the e-commerce platform will likely be additive to both sales and margins in 2H11. Given the strong performance we would not be surprised to see accelerated store openings as space becomes available.”

SCVL is rated Buy and has a $32 PT.

SCVL is currently trading at $27.91.